How to buy bitcoin for gambling online
You’ve heard of these incredible Bitcoin casinos and their bonuses that translate to tens of thousands of dollars, and you want to gamble in Bitcoin, but aren’t too sure how to actually buy a Bitcoin? Is this safe? Is this legal? We’ll answer all those questions here and give you a step-by-step guide how to buy Bitcoin, how to deposit Bitcoin, how to get your hands on free Bitcoins and, finally, how to withdraw Bitcoin.
With the ever-growing Bitcoin prices, gambling in Bitcoin is not just gambling, it’s an investment. When you win some Bitcoins on gambling, you can continue gambling or you can let them sit and rise in value. This is the only way to make money on gambling while you sleep. Up to you if you want to risk to get more Bitcoins or you want to HODL them and let the value rise.
1. Register an account with a Bitcoin casino
First things first. Open an account with Cloudbet and Bitstarz and then come back to this article for further steps. Both are great and you’ll want a account with both of these excellent casinos, so go ahead and sign up now for a free account.
- www.cloudbet.com (5 BTC bonus: casino, live casino, sportsbook)
- www.bitstarz.com (5 BTC bonus: casino, live casino, dice)
There won’t be any need for personal identification, no documents. An email address and two minutes of your time are all you need. You will be able to gamble anonymously without any interference by the casino or the authorities.
These bonuses won’t last forever. Get them while you still can.
2. Buy Bitcoin
You buy Bitcoin by signing up to one of the online platforms where Bitcoins are traded. Here is a quick list of the most popular ones:
- www.coinbase.com (Visa, Mastercard, bank transfer)
- www.coinsbank.com (Visa, Mastercard, bank transfer)
- www.localbitcoins.com (cash, most other payment options)
- www.bitstamp.net (bank transfer)
- www.bitkonan.com (bank transfer)
The number of options may seem a bit overwhelming but it’s always the same two-step process. Deposit money to the trade platform, and buy Bitcoin at the offered exchange rate. For precise guidance on how to do this and how to verify your identity it’s best to contact the respective trade platform.
For example, CoinsBank allows Visa and Mastercard deposits, and it will take a couple of days for the deposit to appear in your account.
Once you bought Bitcoins, they’re there in your wallet at your trade platform account. You can move them to another wallet if you wish, you may move them to an offline wallet, or you can do the right thing and move them to an online casino which will give you a deposit bonus on your Bitcoins.
3. Transfer Bitcoins to online casino
Now this is simple. Say you opened an account with Cloudbet casino. In your account you’ll see a wallet address. You just initiate the transfer from the place where you got Bitcoins (e.g. CoinBase, CoinsBank or some other wallet) to your Cloudbet casino account address, and as soon as the transaction enters the blockchain, you’ll see Bitcoins in your Cloudbet casino account. Easy as pie.
When you’ll be withdrawing your Bitcoins, you’ll just go in the opposite direction and initiate the withdrawal at the place where you got Bitcoins (your casino account) and will transfer them to your wallet of choice.
4. Get Bitcoin deposit bonus
The actual way in which you’ll get the deposit bonus differs from casino to casino. Cloudbet are the best in this matter, as you just deposit Bitcoins to your Cloudbet account and you immediately get a deposit bonus. The bonus will be released into your account as you achieve rollover requirements, and you got a full year to do that. Meanwhile you can transfer your Bitcoins in and out of your Cloudbet account, and you won’t lose the bonus. It will be right there waiting for you. So go ahead, sign up at Cloudbet and deposit your Bitcoins there to get the bonus up to 5 BTC.
Yes, 5 BTC.
And you can sign up with Cloudbet pretty much regardless of your country of origin. There might be restrictions for United Kingdom and perhaps United States, so visit Cloudbet and register in order to find out if you’re allowed as a customer. If you are, you can also get the 5 BTC bonus. You will get 100% on your deposit, for example, if you deposit 0.05 BTC you’ll get 0.05 BTC as a bonus. If you deposit 5 you get 5. That’s $15,000 based on Bitcoin prices from June 2017.
BitStarz are also great as they’re giving you 100% up to 1 BTC on your first deposit, and three more bonuses on your subsequent deposits for a grand total of 5 BTC in bonuses. BitStarz won’t give the bonus to players from these countries: Players from the following countries are not eligible for any promotional offer: Greece, Hungary, Mauritius, Slovenia, Croatia, Bosnia and Herzegovina, Macedonia, Austria, Montenegro, Albania and Serbia. If you’re not among these, sign up and claim your BTC bonus.
5. Gamble Bitcoin
You’ll be able to play slot games, place slot bets, play live roulette, perhaps do some binary options, even play poker if you go to Betcoin.ag. Be careful with the stake, try to translate the Bitcoin amount to Dollars or your fiat currency of choice at first, until you get an overall feeling for what a certain amount of BTC is worth.
With some ability and some luck, you’ll be able to double your Bitcoin. Since there’s a finite amount of these – only 21 million will ever exist – you just made the wisest move in your life.
6. Withdraw Bitcoin to your wallet
There are all kinds of theories on what is the safest place to store your Bitcoin. But in general, you will probably want to move them away from the casino and store them in an independent location. Such as your personal online wallet at CoinBase or CoinsBank, or some other online wallet, or an offline wallet. Do educate yourself on this matter, it’s vital to store your BTC safely so no one can ever access them but yourself. This is the only thing you need to worry about. If your Bitcoins are stored in a safe location then they’re safe.
As far as legality is concerned, well, legality is not a matter of something being a crime or not, but a matter of what the government decides to outlaw or ban in order to protect its greedy interests and in order to maintain control over its citizens. With Bitcoin they can’t do that. So Bitcoin will never be “legal” in that sense, as its purpose is to tear down the whole framework of government control and of authorities telling you what you can and cannot do. Hence the anonymous online gambling available to citizens of all countries.
We hope you enjoyed our little Bitcoin guide. Good luck with gambling in Bitcoins!
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